Analysis of changes in the retirement insurance system in Poland in 2002-2018

The year 1999 marked the beginning of reforms in social insurance Poland. Changes which were implemented then regarded mainly retirement insurance. Until reform was introduced, had operated under a pay-as-you-go system. However, political changes Poland, as well adverse demographic trends, led to ineffective functioning existing system financing liabilities arising from It necessary introduce that, above all, would allow for maintaining an appropriate level pension. following article concentrates on one selected aspect this - Open Pension Funds (in Polish: Otwarte Fundusze Emerytalne; OFEs) and presents major occurring 2002-2018, their reasons effects. analysis is based data Financial Supervision Authority Social Insurance Institution.